“Right now, with most metals at yearly lows, or multi-year lows, it does say that the economy is slowing down a little bit, at least from a global perspective,”
Egilinsky told Kitco News. He added that in metals have been particularly sensitive to a strong U.S. dollar this year. “I think the biggest reason why the metals, whether it’s precious or industrial metals, are one of the worst performers this year, is because of the strengthening dollar,” he said.
According to Egilinsky, contrarians would do well to be bullish on gold right now, owing to a historically high net short position that could cause the yellow metal to rebound.
He added that alternative commodities, especially grains, have the most potential for gains by year end should the Trump tariffs on China de-escalate.
- Source, Kitco News
